Carnival Corporation Updates Investors on Cash Reserves...and Cash Burn Rate, Too

It's been nearly a month since Carnival Corporation (NYSE: CCL) shocked the stock market by revealing it was burning through its cash reserves at a faster-than-expected $650 million a month. It's been nearly a month since the company laid down a marker and promised to cut that burn rate to $250 million monthly, the better to help it ride out the recession.

But Carnival is not there yet.

Image source: Getty Images.

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Source Fool.com